Frances Cook

What is interesting to me is we are now seeing properties come back on the market and they're selling a little bit quicker than they were before.

We've got figures from realestate.co.nz showing townhouses are selling average of 120 days at the moment.

Standalone houses, it's around 96 days on average.

And that is marginally better than things were before.

So we're getting a little bit of those signs of...

buyers and sellers coming into a bit more reality with each other.

I mean, let's not sugarcoat it.

That is still longer days to sell than things were before, but it's less bad than it was.

So I think what we're hitting now is a bit of a crunch point where things have become so expensive for so long.

People have held off

trying to make decisions either way, buying or selling.

And now we're hitting that crunchy point where people just have to live their lives and they have to make a decision and people are now having to make some quite tough decisions.

Oh, yeah, exactly.

I mean, you may have been being tongue in cheek, but you're actually spot on.

What you're doing, I mean, most of the value in any property you buy is in the land.

That's why apartments are cheaper.

That's why townhouses are cheaper.

And that's why a standalone home is more expensive.

So much of it comes down to the square footage of land under the house.

And then the property that you've got on top of that